Initial jobless claims in the US surged by 27,000 from the previous week to 263,000 in the first week of September, the highest single-week figure since October 2021, and well above market consensus of 235,000 initial claims. This finding aligns with a series of downbeat labor market surveys released since the beginning of the month, adding to evidence of worsening employment conditions in the US. (alg) Source: Trading Economics
US President Donald Trump seized the opportunity to lash out at Federal Reserve Chairman Jerome Powell on Tuesday during a meeting with Philippine President Bongbong Marcos. After spending weeks normalizing the White House by publicly criticizing the Fed and attempting to undermine the US central bank's political autonomy, President Trump is working hard to justify his efforts to circumvent US laws that prevent him from having a say in who runs the Fed and what they do. Donald Trump nominated Jerome Powell to take over the Fed's top job in 2018 and has been very vocal about his displeasure...
Treasury Secretary Scott Bessent has lent his support to Jerome Powell amid regular attacks from Trump administration officials, saying he sees no reason for the Federal Reserve chairman to resign. "Nobody is telling me he should resign now," Bessent said of the US central bank chief, speaking Tuesday on Fox Business. "His term ends in May. If he wants to continue, I think he should. If he wants to leave early, I think he should." Powell has been criticized by President Donald Trump for months for leading the Fed on hold, refusing to continue rate cuts last year due to concerns about the...
Foreign investors are increasingly uneasy about U.S. monetary policy after President Donald Trump's public criticism of Federal Reserve Chair Jerome Powell, according to Yardeni Research. Though Trump recently said it was "highly unlikely" he would fire Powell, Yardeni noted the president also added, "I don't rule out anything," leaving markets jittery. "We don't believe President Trump will fire Powell," Yardeni wrote, "but, just in case, we examine the credibility crisis that could ensue if he does." Officials in Tokyo and Beijing reportedly view Powell's ouster as more of a "when" than...
U.S. Treasury Secretary Scott Bessent said on Tuesday that he will meet his Chinese counterpart next week and discuss what is likely to be an extension of an August 12 deadline for higher tariffs. Bessent told Fox Business that trade with China was in "a very good place" and the meetings in Stockholm would take place next Monday and Tuesday. "I think we've actually moved to a new level with China, where it's very constructive and very we're able we're going to be able to get a lot of things done now that trade has kind of settled in at a good level," Bessent said Source: Investing.com
The European Union appears to be considering whether to deploy its "Anti-Coercion Instrument" characterized as a "nuclear option" to try to deter trade disputes — as the threat of a 30% tariff on EU imports looms large. A number of EU member states, including France and Germany, are reportedly considering using "anti-coercion" measures targeting the U.S. if the bloc cannot reach a trade deal with U.S. President Donald Trump, EU diplomats told Reuters this week. The measures could see the EU restrict U.S. suppliers' access to the EU market, excluding them from participation in public...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts...